Find Out What Are The Qualifications Needed For Affordable Term Life Insurance For Seniors

In a competitive environment, term life insurance for seniors is no longer a myth but a reality.  With a large portion of the baby boomers becoming senior citizens, many of them have enough income to spend on life insurance.  Although with advanced age and medical conditions the insurance rates have increased, there are still some policies available to this group of people.  Some states in the US insist on insurance companies offering a deferred life policy to seniors.

This policy is short term. For the first 2-3 years, a limited death benefit and refund of premiums will be given. After this period, if the policyholder is still alive, beneficiaries can claim the full coverage amount. A guaranteed life policy gives benefits to seniors in set periods. Those who want this insurance must undergo a physical examination and answer some health related questions. If they get accepted, then coverage is given irrespective of whether they get ill after that point.

Seniors can request a life insurance quote either through online sources or from an insurance agent. An agent will give them quotes from insurance companies they represent. Getting quotes online is always better idea. Searching online gets quotes from all top quality companies. This is considered by most experts as the best way to get affordable plans.  Seniors have to be cautious when requesting a policy since they can be easily lured into getting one unsuitable for their needs.

They should consider all their options carefully, talk to experts or family members and then make sure they get a full proposal that they must carefully study. Once they go through the proposal and find that it is what they require, they can go ahead. While buying term life insurance, seniors must request for full disclosure of all information pertaining to benefits, negative consequences and so on. They must also get complete details of hidden costs involved when changing or canceling policies. They must also make sure that they check the licenses of the insurance agent and company they choose.

There are so many rogue companies operating and if a senior citizen does not check the credential, they lose all their life savings. They can check with agencies like Better Business Bureau or the state insurance commissioner who oversees all insurance companies and their activities. The policies for seniors are high, yet there are some ways that they can ensure these costs go down by:

Avoiding smoking

Stop drinking

Watch weight

Reduce cholesterol

Avoid risky hobbies

Seniors who want to benefit from low cost insurance must quit smoking.  Whether they request a quote from an insurance agent or look for online life insurance quotes, the first question that will be asked is their smoking status. Anyone who smokes will run the risk of life-threatening illnesses and this can immediately increase their insurance rates. People who qualify for cheap insurance is the preferred non-smoking category.  Though the seniors cant come under the preferred category because of their age, they can ensure they cut down insurance rates by stopping smoking.

The rates again depend on the number of months or years that you have stopped smoking.  A person who has quit two years ago will get cheaper rates than someone who has quit four months ago. Keeping off alcohol and drugs can also ensure cheap rates.  Most senior citizens are out of shape, obese and suffer from high cholesterol.  If they want low rates, they must start exercising  simple walking will do -, start eating healthy low calorie foods.

This will automatically bring down their weight and cholesterol.  Sometimes a simple medication can also keep cholesterol levels in check. Ideally, if cholesterol levels are below 210, a person is considered healthy.  Find out your ideal weight and start to shed the loose flab before applying for insurance.  Finally insurance companies have a list of hobbies they consider risky.  This again depends on the underwriting policies.  Some companies may specific sports such as sky diving, mountaineering or bungee jumping. Others may even categorize traveling to dangerous war-torn countries as a risky hobby.  Seniors who seriously consider these factors and take steps to improve them can get low cost insurance rates.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life insurance for seniors and universal life insurance, visit his site today.

Consider The Needs Of Beneficiaries When Opting For Low Cost Life Insurance

When searching for life insurance quote on line, remember that there are many insurance companies who aggressively market their schemes. Their goal is to attract as many customers as they can and improve their profit margins. People must be very wary and study these schemes carefully before opting for one. An important step is to know the two main types of insurance categories  permanent insurance and its sub-divisions and term life insurance. Once you know the details of these plans, you can make a smart choice that will benefit your dependents.

Always remember that you should not sacrifice the needs of your dependents just to opt for low cost life insurance. Many insurance companies will offer extremely low rates of insurance  especially on term insurance just to get more applicants.  When receiving such quotes, you must always study the terms and conditions very carefully.  This involves consideration of the term period and the coverage amount.  Very often low cost insurance will be given for short term periods and for very low coverage.  If this suits your needs, then you can sign up for it.  On the other hand, if you find that you need more coverage and a longer term then ask for other quotes and choose the best policy.

One must make a comparison between whole life vs. term insurance. It will give details about both types of policies and at the end of the study; you will be able to make the right decision. The following comparisons of both can be done:

Premium

Savings component

Beneficiaries

Age

Health

Permanent insurance of which the common types are whole, universal and variable insurance provides lifelong protection to beneficiaries. It has a wealth accumulation component that is tax deferred.  This means that it can be used as an investment vehicle and also gives a death benefit when the insured person dies.

The premiums are fixed and have to be paid without default.  The policy lasts for the entire lifetime of the individual and when he or she dies, the beneficiaries will receive a fixed amount that is called the death benefit.  During the lifetime of the policyholder, he has the right to borrow against the cash value that has built up.  This amount can be used for any exigencies that arise.  This proves an asset to the insured for the amount can be borrowed without the need to pay taxes.

Term insurance on the other hand is taken for a fixed period of time at specified rates. When the period expires and if the holder is still alive, then he will have the option of renewing the plan but he will have to pay extra. There is no savings component and the beneficiaries receive only a fixed amount as death benefit. The coverage amount and period can be decided by the applicant.

Now that you know the basics of both these plans, you can make a comparison based on the above factors. As far as the premium amounts are concerned, the cost of term insurance is much less than whole life insurance. Those with limited incomes, have only one member in the family earning or have a large family with a lot of expenses will opt for term insurance over whole insurance.

The greatest benefit of whole insurance over term insurance is the savings component.  Those who can afford to invest in this plan and allow the insurance company to take care of their investment options can be assured of a cash value build up that they can borrow from in times of need.  However, those who cannot afford it may consider it a forced savings that requires higher premium payments, commission and fees paid to the insurance company.

Term insurance does not allow beneficiaries to claim the coverage amount if the holder outlives the term. He has to renew the policy at higher rates. On the other hand, whole insurance is for the entire lifetime and rates may not vary even if the holder develops a medical condition. Age and health play an important role in determining rates of both forms of insurance. Young, healthy individuals will always attract lesser rates than older people, who suffer from ill health. The latter category of people, can consider no medical exam term life insurance option which will give adequate coverage but at much higher rates. Once you compare and contrast these two major life insurance categories, you can make the right choice.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life ins quote and seguros de vida, visit his site today.

Cheap Life Insurance Need Not Necessarily Give Inadequate Coverage

Some say that life term insurance is the best for insurance. It has affordable rates while all other policies generally are overpriced. However, some others find it as a waste because it does not offer any return unless the insured event takes place within the valid term. Consequently, even in this twenty-first century, so many people in America live without life coverage; they find the pure life insurance policies to be inadequate and the investment policies to be too expensive. One can imagine what happens to their family if they die before they have been able to settle their liabilities.

Term life may offer the coverage for a specified period only, but it cannot be considered inadequate. Remember, the policy is mostly sold for 10/15/20/25/30 years. You just need to carefully calculate the vulnerable years and then add few years to it. Anyway, thirty years is a long enough time for settling your liabilities and generally you dont need life coverage more than that. Even those who buy lifelong coverage generally cash out the policy after stipulated years. That is why its temporary validity is actually not an issue at all.

That it does not offer anything other than death benefit is also a non-issue. If you glance through the term life insurance quotes, you will know why. Indeed, a term life does not offer anything other than death benefit because you pay only for that. Indeed, the premium you pay is so low that it can barely cover the cost of insurance and a small administrative cost. If you want to build your asset, you can always do that separately using the difference in premium rate.

Separating your insurance need from your investment is the best way to secure your familys future. If you die while the policy is still in force, this is the only way you can leave both the death benefit and your investment for your family. If you buy one of those investment policies, the carriers will definitely release the insurance amount upon your death, but they will retain the cash value amount although that has been grown in a separate account using your own money.

Therefore, if you have a family or some other dependents to take care of, go for a term life. However, if you want to get the best out of the bargain, you must be aware of different variables that determine the policy price. Indeed, if you are looking for cheap life insurance coverage, buying only a term life insurance is not enough. Cheap rates are available only to people whose profile matches with the guidelines followed by a particular carrier.

Following are the guidelines most carriers generally go by:

Younger the insured is, greater is the chance that he will outlive the term and so he should preferably below mid thirties.

Women have longer lifespan and so they are offered the coverage at lower rate.

Higher body mass index and tobacco use may cause diseases later in life and so these people are charged more.

General health condition and hereditary traits are also looked into because they too have great effect on longevity of a person.

Road habits, occupations, hobbies and recreations are also important and so these too are included in the underwriting process.

Therefore, the life insurance rates actually depend on the carriers perception of your longevity. Remember, the claims can only be placed if the insured dies within the term. That is why the carriers will offer you the coverage at a low rate only if they believe that you are going to outlive the term. To make sure, they will ask you to undergo a medical test. Some policies of course exempt you from taking any such test, but such policies will be more expensive even for healthy and tobacco free people. People generally opt for them because of their simplified purchase procedure.

As it is, availability of life insurance online has made the purchase process of any policy more or less hassle free. You no longer need to trudge to the brokers office or entertain agents at home. You can receive quotes at home and apply through internet. However, unless it is a no medical policy, you will have to appear for an interview and a medical test; but you will not have to take any hassle for that. It is generally arranged at the time and venue of your choice; it can be your home or even your office. Therefore, you do not have any reason for not buying a policy. Get one today and lead a peaceful life.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on affordable life insurance and term life insurance, visit his site today.

The Findings: Evaluation of Whole Life Insurance Term Life Plans

The talk about the difference between whole life insurance and term insurance policies has been around since time immemorial. Both have been gaining more and more followers as time progresses. In truth, the debate on which is better should not be even raised at all. This is because, if you will give it a closer look, you would realize that the effectiveness of any plan will be measured on a case to case basis. There is certainly no one size fits all in the industry business.

Permanent plans such as the universal and whole life plans require higher premiums because they cover three components. First is the insurance protection itself. Second is the unavoidable administrative fees and the last is for the supplementary benefits. Below are the consequences.

Your savings and your insurance are treated as two separate accounts. This is where the problem sometimes lye. The death benefit will surely be handed over to your recipients. However, there are carriers who would not add up the investments made to that benefit for the reason that it is not meant for the beneficiaries.

Also, in the event that you decide to forgo the plan while you are still living, you will be assured that the revenues you have made from your investment will be reimbursed to you. However, the death benefit will certainly not be given as you are still alive. It would have been better if you have cast your money in other investments.

As what the consequences indicate, you may lose in this deal. It is disappointing to know that there is a possibility that you will have to choose between the two when you are promised to get both. There is a solution to this problem. Through getting low cost term life insurance plan, you may have the best of both worlds; you will stay protected while using the remaining amount of money to opt to other money-spinning investments. Now thats the coveted option!

However, one reason why some people dont want to buy term life is that it offers insurance protection that can only be enjoyed for a limited period of time. More often than not, it is offered in various terms; it can be as short as a year or as long as 30 years. But if you will think about it, you sometimes dont need an insurance plan all your life as there are needs that are short-term. It includes payment for home mortgage.

Upon deciding that you will buy term life plans, you need to ensure that you will get another investment as a low cost plan will not be able to handle it all. In addition, you need to be sure on the duration that you will get before you gather term life insurance quotes.

So how long do you think you will need insurance protection?

When you are the only person making a living for the family; when you met your untimely demise, their income flow will suddenly dry up. They will be at their most vulnerable if not protected.

When your dependents are not self-sufficient; say your spouse is not working and no family members have other insurance plans.

When the kids are just starting to grow up and you are already aging, you may need funds for their higher education. 

When you have existing loans and home mortgages that are unpaid.

Non-permanent plans have this type of policy that caters to the individuals who are terminally ill. This has many advantages and just one quite liberally pricey disadvantage. No medical exam term life insurance plan is easy to buy. The medical tests are not performed and so your illness, no matter how bad it is, will be rendered void by the underwriters of the insurance company. In addition, there will be less waiting time since fewer factors will be considered. It can even be bought over the internet. There are even instances when the approval of the application is ensured. Now here is the catch, you will have to pay much higher rates compared to usual plans.

The premium indicates the main difference between the policies that are fully underwritten compared with the ones which are not. The higher the payment that you will make the more freedom you will get. Insurance companies are doing business and this is only natural. The choice is yours to make. You can take the shorter route but you have to pay for convenience fees. Each has different underwriting rules. This is why you have to be wise in your decision as it will affect you for a long time. If you are not really sick and just cant stand waiting, you may rethink about deciding to opt for a no medical life insurance.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life insurance quotes and seguros de vida internacional, visit his site today.

Settling For Instant Term Life Insurance For Adequate Protection

Insurance protection do not differ much with other items that you shop for. More often than not, buyers also base their decision on the price that is currently offered to and the possible amount of value that they can get out of it. Its interesting to mention that instant term life insurance scores well in both criteria. Below are some more of its benefits.

1. You will not be required to submit many documents. This drastically speeds up the application process as it takes some time to get the needed papers from the proper authorities. Also, you are most likely to be billed with less administrative charges by the insurance firm.

2. If there are fewer documents to be processed and submitted by you, the verification which will be performed by the insurance company will eat up less time as well. In addition, it will not make you go through medical exams as well so you dont have to hire a physician and pay him professional services.

3. There is a fat chance that your premiums will remain unchanged. This is because your insurability will not be re-evaluated by the insurance firm even the plan comes to term. Moreover, you can even obtain life insurance quote online, which makes buying such a plan more convenient.

There are two particular types of instant plans to note of the instant term life and instant life plan. The only difference between the two is that the former has a validity period after which it must be renewed. The latter just goes on seamlessly until we decide to terminate its coverage.

Instant term life insurance quotes are easily available on the internet. All we have to do is surf to a legitimate insurers website and go through the listings of rates available. After this, all that we need to do is to confirm these rates and sign up for the particular plan we are interested in. What makes this type of protection so appealing is that all this can be done without leaving the comfort of our homes.

This instant plan is the direct opposite of whole or universal life insurance, which just by its name, is a plan that provides coverage for our entire life. It is somewhat similar to an instant life plan, with neither the affordability nor instant bit. Like a conventional protection plan, it requires us to provide documentation on three main items:

1. Identity
2. Health status
3. Beneficiaries

Premium rates for coverage like this are also significantly higher than that for an instant plan, with rates decidedly more expensive as we get older. This is mainly because of the belief (and fact) that the older we get, the more our health is affected. This translates to higher medical costs and a bigger chance that the policy will be paid out in full soon after purchase. To cover all these additional costs, it is therefore understandable that premiums correlate with our age.

The convenience that instant term life plans provide to its buyers is the main thing that draws the buyers over it. Most individuals have been playing the role of busy bees. They run in pretty fast circles, barely having time to do trivial things such as filing an application for insurance protection. They can no longer include in their hectic schedules the undergoing to medical examinations, paying a visit to the office of the insurance company they have chosen, doing paperwork to be submitted and other things. This is why the idea of instant plans that allow them to instantly enjoy coverage is so appealing.

However, it does not and should not follow that universal life and other permanent plans are of no use. If you have more than enough purchasing power, it is always the best to opt for them. This is because you will have peace of mind that anytime you will need to meet your Maker; your family will still be financially secure. In addition, you would not have to remind yourself over and again when your insurance plan will have to be renewed as the protection that whole life grants does not expire.

If you are not yet used with the tricks of the insurance trade, you may want to consider settling with instant term plans. This will allow you to be covered while you are still getting the hang of it. Also, this plan is less expensive compared with permanent ones. You can observe prudence with instant term policy.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life insurance term and life insurance no medical exam, visit his site today.

Saving More Money With Cheap Term Life Insurance

If getting protection for yourself and your loved ones is important, they you must consider some form of insurance. Contrary to what is shown on TV, where beneficiaries receive millions of dollars when the policyholder dies, not all policies are that luxurious. There are plans that offer claims in the thousands or hundreds of thousands in fact, you can actually make the call on how much you want to be protected for.

The insurance company will only pay to your beneficiaries the coverage amount you have agreed to pay to them. The death benefit can be claimed without hassle as long as you didnt violate a single provision indicated in the terms and conditions. Whats more, the government will not be imposing taxes on the proceeds so the recipients can get the full amount even to the last centavo.

When it comes to gathering of term life insurance quotes, you will not have to be bothered much about it as there are various channels through which you can obtain it. You may get them with just a few clicks or you can seek help from independent brokers and agents. But there are other equally important things that need your attention too. Among them are the length of duration of your insurance term life and the type of term life you will purchase. There are so many variations in the market that choosing sometimes get overwhelming.

Maybe because of being badly informed, a big percentage of individuals have misconstrued facts about no medical term life insurance plan. The result is that various myths ad misconceptions have been formed about the plan, keeping people to experience what advantages the plan can provide them. In contrary to those myths, the plan is cheap but is more than able to provide adequate coverage so it can be concluded that it is of high quality.

1. With this policy, the premiums are most likely to be fixed. The reason behind this is that the policy holder will not need to have his insurability re-evaluated after a certain period of time. Because of this, you would not have to worry about being billed by extra rates such as administrative charges that would have been used for pulling off such stunt.

2. As the term suggests, you will not need to go through medical examinations.
This means that you no longer have to employ the services of a licensed physician. You will be saved from paying professional fees. This also hurries up the processing of your application.

3. You can do all the transactions at the comfort of your own home. This denotes that you dont have to set aside some money to cover transportation expenses. Since you will be making the deals online or through phone, you will also be free from exerting efforts to check in to their office.

Even the payment arrangements can be hassle-free. You can just send your check that will serve as your payment for your first premium. You may do it by providing your credit card number as well. The insurance firm will just bill your card merchant and it will be reflected to your statement of account.

Cheap term life insurance quotes can also be found in the guise of the following plans.
- Travel plans
- Personal injury coverage
- Medical or hospitalization insurance
- Car insurance
- Business insurance policies
- Educational plans

Although it may be hard to believe that cheap insurance can be found under the guise of the coverage mentioned above, it is true. But if you have a specific purpose in mind that you want to focus on, you may do so by all means. The choice is in your hands. You can decide to increase the coverage with the help of riders. This will provide extra coverage so that it will be sufficient to meet all your needs.

Suppose you have several policies on hand; it will be wise to take into consideration their merging. This will be of big help to you. First, you can manage your finances well as you will not have many difficulties maintaining several insurance plans. In addition, you will be able to save some money. For instance, you already bought a plan before being given by your employer another life insurance policy as a component of the employee benefit package, you may discuss with the service provider about the merging of the two. That way, the premiums paid by your employer will not be wasted even if youre no longer with them and your coverage will be sufficient.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on insurance life and low cost life insurance, visit his site today.

Numerous Ways How Term And Universal Life Insurance Can Cover You

More and more towns are getting highly urbanized. Some even gets to be globalized. This is why it is quite ironic that you will find individuals who dont have a strong grasp of life assurance policies. Most of them think that it is a type of investment that will yield ludicrous revenues after some time. Some people are almost completely badly informed about it and so they trust the so-called experts with their money. Others have this notion that only the rich and famous have the right to purchase one. There are skeptics as well that think its just a way to waste money.

In essence, life assurance policies are meant to provide financial protection to your loved ones if you die untimely. It has two primary categories.

1. Universal life insurance the insurer will cover you for your whole lifetime, considered as a permanent plan.
2. Term life plan the coverage can only be enjoyed for a specific term.

Among the two classifications; it is quite evident that most individuals prefer the term life plan. It is mainly because of the low premium that it offers. Below is the quick comparison of the two so hang on tight to have a strong grasp of the two.

- Term life has low premiums because it doesnt provide anything other than the insurance protection which will only take effect for some time. On the other hand, universal life offers lifetime protection and the ability to make money through investments on the market; allowing you to enjoy the fruits of your labor while you can.

- Because of the short duration of the term plan, there is a big chance that you outlast it. This would normally keep you from refunding all the premiums you paid unless you bought a Return of Premium type. This will not happen in universal as the protection is permanent. In addition, you dont need to renew it as it will not expire.

- Term life plans premiums can either be fixed, increasing or decreasing depending upon your preference. This allows you to plan ahead so that it can suit well with your finances. As for permanent plans, their premiums can be fixed as well. However, there are sometimes agreements between the insurer and the policyholder to conduct insurability after a specific time. This may increase the premiums because you get older and less healthy.

- You will not have any problem obtaining life insurance quote either for term or universal life plan. They are readily available online. You can gather them from agencies and websites of the carriers themselves. You may also get quotes from insurance brokers and independent agents. If you feel like going personally to the insurers offices, you may do so by all means.

- You would most likely have less problem with term life as it is simpler and more straightforward compared with universal which have additional benefits such as its cash saving facility. While your beneficiaries may get more money with this option, there is also a probability that they will have some problems claiming it.

There is another type of term plan that is getting more and more popular, the no medical exam life insurance policy. This plan is basically for people who have been turned down by numerous insurers just because of an incurable illness. Buying this is both convenient and fast. As its name implies, you will not have to undergo medical tests so you wont have to bother with your sickness.

You can do the transactions over the internet or through phone. You can file the application at the comfort of your home. It saves you the time, effort and even transportation expenses as you will not have to personally go to the office of your preferred carrier. Whats more, you will not be asked to submit many documents.

Also, you will not have to be intimidated as you will not make transactions personally. If you prefer this type of communication, this might be ideal for you. You have to be careful though because as you may know, there are lots of scammers online who pose as legitimate carriers. You need to be alert and wise, knowing what to look for and how to verify their authenticity so you will be safe all the time.

Hopefully, the information above has been helpful to you. By being equipped with the information provided above, it will be easier for you to arrive with an informed decision on whether or not to go for term plan. Whichever of the two you will prefer, make certain that it will meet all your familys needs.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life insurance quotes and seguros de vida usa, visit his site today.